Brazil's steel industry resumes investments after record high of demand
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Update time : 2021-08-20 18:41:12
According to the president of the Brazilian Steel Institute (IABr), Marco Polo de Mello Lopes, the country's steel sector forecasted a new investment cycle that could cost around US$8 billion from 2021 to 2025.
The steel industry in Brazil, the ninth-largest in the world, is breathing easier as the steel demand in H1 this year reached the highest level in eight years. That is why Brazilian companies are already announcing investments in expansion and reconnection of factories that had been inactive since 2014.
From this point of view, the breakdowns that occurred due to the COVID-19 pandemic, which caused the closure of furnaces, blast furnaces, and product lines, seemed to have been overcome.
